SWIFT ISO15022 Standard
Detail view for message MT340 - Forward Rate Agreement Confirmation
Purpose of the message MT340
Confirms the details of a forward rate agreement
Scope of the message MT340
This message is exchanged by or on behalf of the institutions or corporates, party A and party B, who have agreed to a forward rate agreement (FRA).
The confirmed transaction is covered by an ISDA (International Swaps and Derivatives Association), Deutscher Rahmenvertrag für Finanztermingeschäfte, FRABBA (British Bankers' Association) or AFB (Association Française de Banques) Master Agreement. These agreements are either signed or under negotiation.
A money broker may also send this message to the two parties (party A and party B) for which he arranged the deal.
If there are two money brokers involved in arranging a deal between party A and party B, this message is also exchanged between these money brokers.
The message is used to confirm/notify the details of:
- a new contract between the parties
- an amendment to a previously agreed contract
- the cancellation of a confirmation.
It may also be used to report the details of an agreement to a trade repository.
Structure of the message MT340
Sequence A - General information [ mandatory, nonrepetitive ]
No.
Tag
Option
Name
Status
1
15A
New Sequence
M
2
20
Sender's Reference
M
3
21
Related Reference
C
4
22A
Type of Operation
M
5
94A
Scope of Operation
O
6
22C
Common Reference
M
7
23D
Type of FRA
M
8
21N
Contract Number Party A
O
9
21B
Contract Number Party B
O
10
82a
A
Party A
M
D
11
87a
A
Party A
M
D
12
77H
Type, Date, Version of the Agreement
M
13
14C
Year of Definitions
C
Sequence B - Transaction Details [ mandatory, nonrepetitive ]
No.
Tag
Option
Name
Status
14
15B
New Sequence
M
15
30T
Trade Date
M
16
32B
Currency, Notional Amount
M
17
30F
Effective Date
M
18
30P
Termination Date
M
19
37M
Fixed Rate
M
20
14F
Floating Rate Option
M
Sequence B1 - AFB and FRABBA Details [ optional, nonrepetitive ]
No.
Tag
Option
Name
Status
21
30V
Fixing Date
M
22
38D
Contract Period
M
Sequence B2 - Other Details [ mandatory, nonrepetitive ]
No.
Tag
Option
Name
Status
23
38G
Designated Maturity
M
24
14D
Floating Rate Day Count Fraction
M
25
17F
FRA Discounting
M
26
18A
Number of Repetitions
M
27
22B
Financial Centre
M
Sequence C - Settlement Instructions for Amounts Payable by Party A [ mandatory, nonrepetitive ]
No.
Tag
Option
Name
Status
28
15C
New Sequence
M
29
53a
A
Delivery Agent
O
D
J
30
86a
A
Intermediary 2
C
D
J
31
56a
A
Intermediary
O
D
J
32
57a
A
Receiving Agent
M
D
J
33
58a
A
Beneficiary Institution
O
D
J
Sequence D - Settlement Instructions for Amounts Payable by Party B [ mandatory, nonrepetitive ]
No.
Tag
Option
Name
Status
34
15D
New Sequence
M
35
53a
A
Delivery Agent
O
D
J
36
86a
A
Intermediary 2
C
D
J
37
56a
A
Intermediary
O
D
J
38
57a
A
Receiving Agent
M
D
J
39
58a
A
Beneficiary Institution
O
D
J
Sequence E - Additional Information [ optional, nonrepetitive ]
No.
Tag
Option
Name
Status
40
15E
New Sequence
M
41
29A
Contact Information
C
42
24D
Dealing Method
C
43
88a
A
Broker Identification
C
D
44
71F
Broker's Commission
C
45
21G
Broker's Reference
C
46
72
Sender to Receiver Information
C
Sequence F - Additional Amounts [ optional, nonrepetitive ]
No.
Tag
Option
Name
Status
47
15F
New Sequence
M
48
18A
Number of Repetitions
M
49
30F
Payment Date
M
50
32H
Currency, Payment Amount
M
51
53a
A
Delivery Agent
O
D
J
52
86a
A
Intermediary 2
C
D
J
53
56a
A
Intermediary
O
D
J
54
57a
A
Receiving Agent
M
D
J
Sequence G - Reporting Information [ optional, nonrepetitive ]
No.
Tag
Option
Name
Status
55
15G
New Sequence
M
Sequence G1 - Reporting Parties [ optional, repetitive ]
No.
Tag
Option
Name
Status
56
22L
Reporting Jurisdiction
M
57
91a
A
Reporting Party
O
D
J
Sequence G1a - Unique Transaction Identifier [ optional, repetitive ]
No.
Tag
Option
Name
Status
58
22M
UTI Namespace/Issuer Code
M
59
22N
Transaction Identifier
M
Sequence G1a1 - Prior Unique Transaction Identifier [ optional, repetitive ]
No.
Tag
Option
Name
Status
60
22P
PUTI Namespace/Issuer Code
M
61
22R
Prior Transaction Identifier
M
62
96a
A
Clearing Exception Party
O
D
J
63
22S
Clearing Broker Identification
O
64
22T
Cleared Product Identification
O
65
17E
Clearing Threshold Indicator
O
66
22U
Underlying Product Identifier
O
67
17H
Allocation Indicator
O
68
17P
Collateralisation Indicator
O
69
22V
Execution Venue
O
70
98D
Execution Timestamp
O
71
17W
Non Standard Flag
O
72
17Y
Financial Nature of the Counterparty Indicator
O
73
17Z
Collateral Portfolio Indicator
O
74
22Q
Collateral Portfolio Code
C
75
17L
Portfolio Compression Indicator
O
76
17M
Corporate Sector Indicator
O
77
17Q
Trade with Non-EEA Counterparty Indicator
O
78
17S
Intragroup Trade Indicator
O
79
17X
Commercial or Treasury Financing Indicator
O
80
77A
Additional Reporting Information
O